Latest news
Italy plans to increase its crude oil production by 150%
The Italian government plans to boost the oil and gas industry, as part of its first national energy plan in more than 20 years and one of the major parts of this plan is development of the Tempa Rosa oil field in southern Italy.
read more... 06/11/2012
Royal Dutch Shell: 15% drop in Q3 profits on lower oil prices
World No.2 oil company Royal Dutch Shell registered a 15 per cent decline in current cost of supply profits in the third quarter, dragged down by lower crude prices, a fall in output and special charges outweighed stronger margins in refining.
read more... 05/11/2012
Cyprus awards four offshore gas exploration licenses
Cyprus government announced that it awarded four provisional licenses for gas exploration in offshore blocks as part of the second licensing round launched in February.
read more... 02/11/2012
UK government offers new 167 oil and gas exploration licenses in North Sea
The UK Department of Energy and Climate Change (DECC) has offered 167 new oil and gas licenses to companies under the 27 Licensing Round, following a record level of interest by oil companies.
read more... 26/10/2012
IEA: Oil prices to fall over the next 5 years
The International Energy Agency has predicted that oil prices will significantly drop to 89 dollars per barrel by 2017 from the current level, due to slow economic growth and problems in the euro zone.
read more... 25/10/2012